ServiceNow, Inc. (NYSE:NOW) Shares Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. lifted its stake in ServiceNow, Inc. (NYSE:NOW) by 5.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,980 shares of the information technology services provider’s stock after purchasing an additional 365 shares during the quarter. Wedbush Securities Inc.’s holdings in ServiceNow were worth $7,400,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA acquired a new position in shares of ServiceNow during the fourth quarter worth $48,802,000. Dock Street Asset Management Inc. grew its holdings in shares of ServiceNow by 3.4% during the fourth quarter. Dock Street Asset Management Inc. now owns 33,154 shares of the information technology services provider’s stock worth $35,147,000 after buying an additional 1,105 shares during the last quarter. Cardano Risk Management B.V. purchased a new stake in ServiceNow in the 4th quarter valued at approximately $105,090,000. Rheos Capital Works Inc. purchased a new stake in shares of ServiceNow during the 4th quarter worth $10,071,000. Finally, Czech National Bank increased its stake in ServiceNow by 6.7% in the 4th quarter. Czech National Bank now owns 44,793 shares of the information technology services provider’s stock valued at $47,486,000 after purchasing an additional 2,829 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In related news, CFO Gina Mastantuono sold 4,442 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $964.70, for a total value of $4,285,197.40. Following the sale, the chief financial officer now owns 11,126 shares of the company’s stock, valued at $10,733,252.20. The trade was a 28.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jacqueline P. Canney sold 455 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1,058.54, for a total transaction of $481,635.70. Following the transaction, the insider now owns 3,027 shares of the company’s stock, valued at approximately $3,204,200.58. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,351 shares of company stock valued at $20,050,076 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

ServiceNow Stock Down 6.9 %

NOW stock opened at $720.69 on Friday. ServiceNow, Inc. has a twelve month low of $637.99 and a twelve month high of $1,198.09. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The company has a market cap of $148.46 billion, a PE ratio of 105.52, a price-to-earnings-growth ratio of 4.51 and a beta of 1.03. The business’s 50-day simple moving average is $917.80 and its 200 day simple moving average is $979.99.

ServiceNow (NYSE:NOW) last announced its quarterly earnings data on Wednesday, January 29th. The information technology services provider reported $3.67 earnings per share for the quarter, hitting the consensus estimate of $3.67. ServiceNow had a return on equity of 17.11% and a net margin of 12.97%. On average, research analysts anticipate that ServiceNow, Inc. will post 8.93 earnings per share for the current year.

ServiceNow declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 29th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on NOW. Canaccord Genuity Group reiterated a “buy” rating and set a $1,275.00 price target on shares of ServiceNow in a report on Tuesday, March 11th. Guggenheim restated a “sell” rating and set a $716.00 target price on shares of ServiceNow in a research note on Wednesday, January 22nd. TD Cowen increased their price objective on shares of ServiceNow from $1,025.00 to $1,300.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group lifted their price objective on shares of ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Citigroup dropped their price target on ServiceNow from $1,432.00 to $1,426.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,086.00.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.